Yee Manages Huang Real Estate,a Partnership in Which She Is $$\begin{array} {| l | l |} \hline \text { Distributive Share } & \text { Guaranteed Payment } \\\hline\$80,000 & \$80,000\\\hline\end{array}$$

question 45

Multiple Choice

Yee manages Huang real estate,a partnership in which she is also a partner.She receives 40% of all partnership income before guaranteed payments,but no less than $80,000 per year.In the current year,the partnership reports $400,000 in ordinary income.What is Yee's distributive share and her guaranteed payment?

• A) \[\begin{array} {| l | l |}
• \hline \text { Distributive Share } & \text { Guaranteed Payment } \\
• \hline\$80,000 & \$80,000\\\hline
• \end{array}\]
• B) \[\begin{array} {| l | l |}
• \hline \text { Distributive Share } & \text { Guaranteed Payment } \\
• \hline\$ 160,000 & 0\\\hline
• \end{array}\]
• C) \[\begin{array} {| l | l |}
• \hline \text { Distributive Share } & \text { Guaranteed Payment } \\
• \hline\$ 160,000 & \$ 80,000\\\hline
• \end{array}\]
• D) \[\begin{array} {| l | l |}
• \hline \text { Distributive Share } & \text { Guaranteed Payment } \\
• \hline\$ 160,000 & \$ 160,000\\\hline
• \end{array}\]

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